Silver price falls 0.59% on profit-booking, global cues

Mumbai-India (July 24)  Silver prices were down 0.59 per cent to Rs 44,665 per kg in futures trade today amidst profit-booking by speculators and a weak trend overseas.

At the Multi Commodity Exchange (MCX), silver for delivery in September traded lower by Rs 263, or 0.59 per cent, to Rs 44,665 per kg in a business turnover of 1,333 lots.

Similarly, the white metal for delivery in December declined by Rs 271, or 0.59 per cent, to Rs 45,481 per kg in a business volume of 67 lots.

In the international market, silver fell by 0.50 per cent to USD 20.80 an ounce in Singapore.

Market analysts said apart from profit-booking by participants, a weak trend in global markets led to the fall in silver prices at futures trade here.

Source: Financial Express